International Soy Markets

24-Dec-2024 08:12 AM

International Soy Markets
The international soy markets show robust activity, with strong demand, particularly from China.
Private Export Sales:
The USDA reported significant private export sales of 132,000 metric tons (MT) of soybeans to China for the 2024/25 marketing year, reinforcing China's role as a key player in the soy market.
Export Inspections:
Weekly soybean shipments for the week ending December 19 reached 1.747 million metric tons (MMT), equivalent to 64.2 million bushels.
This marks a 56.1% year-over-year increase, showing substantial growth compared to the same week in 2023.
Week-over-week, shipments were only slightly higher, with a 3% increase.
Top Destinations:
China: Leading the demand with 682,683 MT shipped this week.
Mexico: The second-largest destination with 196,641 MT.
Cumulative Shipments:
Total shipments for the current marketing year stand at 26.998 MMT (992 million bushels), a notable 21.1% increase compared to last year.
The data highlights a strong and growing international demand for soybeans, with China driving much of the activity. This sustained demand growth may continue to impact global soy markets positively.